Page History

Definition: What is it?

A financial account is a tool (similar to bank account statement) that is used for monitoring monetary transactions. Normally they will be linked to a party and the various transactions details (eg payments or receipts) will be shown as entries.

...

You can also setup each financial account to post to a specific general ledger account for each party. This is done via a specific field during the creation or update of a financial account. This will override the default setting by type.

What is it used for?

These include:

• Managing and Tracking Customer Prepaid Accounts
• Managing and Tracking Customer Credit Limit (NOTE: Need to verify this)
• Managing Electronic Gift Certificates / Gift Vouchers/ Gift Card
• Reload of Electronic Gift Card
• Company Bank Account Transaction Tracking ???????

NOTE: Need to investigate use of financial account to track company bank account so can mirror bank statement on screen with Financial account.

What's on the screen?

TO DO

How do I create a financial account?

Example: To create a financial account for a customer.

...

• Financial Account (NOTE: This is completed by default when you create a financial account)
• Roles
• Transactions
• Authorizations

How to I update a financial account?

Example: To update a financial account

...

NOTE: Can also update a financial account using Entity Data Maintenance on the Webtools menu.

How do I delete / remove a financial account?

Example : To delete or remove a financial account

...

NOTE TO CHECK: What happens if to the financial account transactions if you delete the financial account? Will there be an problem of auditability???

How do I create transactions for a financial account?

See Transactions

How do I use a financial account?

Once setup a financial account can be selected as a payment method for a customer.

...